Ternium Mexico aims to increase revenue from the auto industry
Ternium Mexico seeks to raise its revenues from the automotive industry from 20 to 25%, with its new laminate projects in Nuevo Leon, said director Maximo Vedoya in an interview to El Financiero.
“The automotive industry is very important, that’s why we dedicate all the time and projects. It needs logistics ‘just in time’ that we can give. We hope that the trend will continue, which will represent those percentages,” said the newly appointed global CEO of Ternium, who will take position in March 2018.
The steel company announced in September an investment of US$ 1.14 billion to expand its production facility in Pesqueria, Nuevo Leon, over the next three years.
This injection of capital will be to increase its production capacity of special steels, mainly to serve specific industries such as automotive.
“We will put a new line of sheet and galvanized, which will add 3.7 million tons to the current capacity, to make them the most sophisticated in the world,” Vedoya added.